Euro, pound steady

Business | 11 Sep 2019 2:48 pm

Fragile investor confidence supported the US dollar and weakened the yen but currency markets kept to tight ranges ahead of series of major central bank meetings over the next week, Reuters reports.
Investor focus for now is centred on the European Central Bank's meeting tomorrow, which is expected to push interest rates even further into negative territory.
The ECB could set the tone for upcoming rate-setting
decisions by the U.S. Federal Reserve and the Bank of Japan next week, and for the broader global risk appetite.
For now, a cautious risk-on mood has prevailed after
The euro, which has shed 3 percent since June, was flat at US$1.1047. The US dollar was flat against the Australian dollar at US$0.6860 and steady on the yen and the New Zealand dollar.
And the pound has held on to last week's gains after British parliament passed a law compelling Prime Minister Boris Johnson to seek a delay to the October 31 date for leaving the European
Union. Sterling last traded at US$1.2353.

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